The Worst Home Price Drops Are Over

If you've been paying attention to the news lately, you might be wondering what's going on with housing prices and whether or not the worst is yet to come. This is because today's headlines create an overly dismal picture. Contrary to popular belief, property values are not in free collapse. The most recent data paints a considerably different and more encouraging tale. Although local home price trends differ by market, here is what the national data tell us.

If we take a year-over-year view, home prices stayed positive – they just appreciated more slowly than they did at the peak of the pandemic. To get a more detailed picture of some of the trends in the market, we need to look at monthly data. 

The monthly graphs below use recent reports from three sources to show that the worst home price declines are already behind us, and prices are on their way back up nationally.